Dangote Refinery Slashes Petrol Ex-Depot Price to N890
Dangote Refinery Slashes Petrol Ex-Depot Price to N890
This price adjustment follows a decline in international crude oil prices and favourable global energy market trends. According to a statement from Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Petroleum Refinery, the price cut aligns with the company’s commitment to market realities and consumer relief.
The latest reduction comes after an earlier price adjustment on January 19, which was necessitated by rising crude oil costs at the time. However, with crude oil prices now declining, Dangote Refinery has responded by lowering the cost of petrol, a move expected to positively impact Nigeria’s economy.
Positive Impact on Economy
Dangote Refinery emphasized that the N60 price reduction will lead to a decrease in fuel costs nationwide, ultimately driving down the prices of goods and services and easing the overall cost of living.
“We firmly believe that this reduction from N950 to N890 will translate into meaningful relief for Nigerians, with a ripple effect across various sectors,” the statement read.
Marketers Urged to Pass Down Benefits
The refinery also called on petroleum marketers to ensure that the price reduction is fully reflected at the pump, allowing the Nigerian public to benefit directly.
Furthermore, the company reaffirmed its support for President Bola Tinubu’s economic revival efforts, which aim to make Nigeria self-sufficient in refined petroleum products and establish the country as a leading oil export hub.
“This initiative aligns with the broader economic recovery plan of His Excellency, President Bola Ahmed Tinubu, who is dedicated to positioning Nigeria as a key player in the global oil market,” the statement added.
With this move, Dangote Petroleum Refinery continues to play a crucial role in stabilizing fuel prices, reinforcing its commitment to Nigeria’s economic growth.
No comments